Examlex
What does the root of the word renal mean?
Opportunity Cost
The potential benefit that is missed out on when choosing one alternative over another.
Opportunity Costs
The cost of an alternative that must be foregone to pursue a certain action. Put another way, the benefits you could have received by taking an alternative action.
Make Total Cost
An approach to calculate the comprehensive cost of manufacturing a product, including raw materials, labor, and overheads.
Buy Total Cost
The total expense incurred to purchase an item or service, including the purchase price and any additional fees or expenses.
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